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No. 19
Revenue growth FY 2021 to 2023: 97.7%
2023 revenue: $19.4 million
The BAM Cos. refers to its “BAM fam,” a workplace culture that’s hard to convey “until you’re here walking through the hallways and seeing the teams working together and hearing the people laughing,” says Ivan Barratt, Founder & CEO. The company, which invests in and manages apartment complex communities, has made the Fast 25 multiple times, and despite its growth, it strives to maintain a small-company culture in which leadership knows everyone’s name. The company hosts numerous events throughout the year, including employee breakfasts, happy hours and trivia days. “Our people are our greatest asset” says Barratt “we genuinely strive to create an environment where teams actually enjoy coming to work.”
A singular focus: For its nearly 15 years, The BAM Cos. has focused on multifamily properties. No office space. No storage space. Just multifamily housing. The company typically buys existing properties in higher-income areas, and it’s particular with its choices, though its second ground-up development deal is underway. “We’ve stayed disciplined in our approach.” Barratt says. “Our track record really speaks for itself.”
Adapting to the market: The rise of interest rates in one way has helped the company. Some people with good incomes and good jobs are finding homeownership unaffordable, but they still want a nice place to live. Obtaining loans as a business, on the other hand, could be challenging. But Barratt says the company has a good relationship with its primary lender.
Transparency prevails: Generally speaking, Barratt says, economic uncertainty and high interest rates have many private-equity investors sitting on the sidelines. But for The BAM Cos., which now has nearly 1,300 investors, the approach is what it always has been: Be transparent and educate the people thinking of investing in you. The company owns and manages the properties, avoiding any short-term incentive to cut corners in one direction that could hurt the other. The company also invests heavily in the Midwest, which is more resilient against the housing highs and lows that can affect other areas of the country, he says.•
Check out more of IBJ’s ranking of Indy’s fastest-growing companies.
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